Sociedad Quimica y Minera (NYSE:SQM) Issues Earnings Results

Sociedad Quimica y Minera (NYSE:SQM) issued its quarterly earnings data on Tuesday. The basic materials company reported $1.28 EPS for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.37), FiscalAI reports. Sociedad Quimica y Minera had a return on equity of 9.69% and a net margin of 12.85%.The firm had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.69 billion.

Sociedad Quimica y Minera Stock Performance

Shares of Sociedad Quimica y Minera stock opened at $80.60 on Wednesday. The firm has a market cap of $23.02 billion, a PE ratio of 39.32, a price-to-earnings-growth ratio of 0.25 and a beta of 1.00. The firm’s 50-day simple moving average is $84.29 and its 200-day simple moving average is $74.97. Sociedad Quimica y Minera has a 1 year low of $29.36 and a 1 year high of $98.00.

Sociedad Quimica y Minera Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Stockholders of record on Friday, May 8th were paid a $1.0295 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date was Friday, May 8th. Sociedad Quimica y Minera’s dividend payout ratio is 130.24%.

Institutional Investors Weigh In On Sociedad Quimica y Minera

A number of institutional investors have recently modified their holdings of the stock. Earnest Partners LLC raised its stake in shares of Sociedad Quimica y Minera by 10.2% in the 4th quarter. Earnest Partners LLC now owns 2,106,810 shares of the basic materials company’s stock valued at $144,949,000 after purchasing an additional 195,142 shares in the last quarter. Van ECK Associates Corp raised its stake in shares of Sociedad Quimica y Minera by 24.7% in the 4th quarter. Van ECK Associates Corp now owns 2,089,638 shares of the basic materials company’s stock valued at $143,767,000 after purchasing an additional 413,246 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Sociedad Quimica y Minera by 4.7% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,529,281 shares of the basic materials company’s stock valued at $65,729,000 after purchasing an additional 69,177 shares in the last quarter. RWC Asset Advisors US LLC raised its stake in shares of Sociedad Quimica y Minera by 18.7% in the 4th quarter. RWC Asset Advisors US LLC now owns 1,462,794 shares of the basic materials company’s stock valued at $100,640,000 after purchasing an additional 230,132 shares in the last quarter. Finally, Bank of America Corp DE raised its stake in shares of Sociedad Quimica y Minera by 87.4% in the 3rd quarter. Bank of America Corp DE now owns 1,239,588 shares of the basic materials company’s stock valued at $53,278,000 after purchasing an additional 578,175 shares in the last quarter. Institutional investors and hedge funds own 12.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. BMO Capital Markets reiterated an “outperform” rating on shares of Sociedad Quimica y Minera in a report on Wednesday, March 4th. Wall Street Zen upgraded shares of Sociedad Quimica y Minera from a “hold” rating to a “buy” rating in a report on Saturday, March 7th. Scotiabank boosted their price objective on shares of Sociedad Quimica y Minera from $90.00 to $100.00 and gave the stock a “sector outperform” rating in a report on Wednesday, March 4th. Bank of America boosted their price objective on shares of Sociedad Quimica y Minera from $49.00 to $53.00 and gave the stock an “underperform” rating in a report on Wednesday, March 25th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Sociedad Quimica y Minera in a report on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Sociedad Quimica y Minera presently has a consensus rating of “Hold” and an average price target of $71.42.

About Sociedad Quimica y Minera

Sociedad Química y Minera de Chile SA (NYSE: SQM) is a leading global producer of specialty chemicals and minerals headquartered in Santiago, Chile. The company focuses on the extraction and processing of key inputs for the agricultural, industrial and high‐tech sectors. Its core business activities include the mining of lithium, potassium and iodine, as well as the manufacture of value‐added products derived from these raw materials.

SQM’s product portfolio spans lithium carbonate and lithium hydroxide used in electric vehicle batteries and energy storage systems; potassium chloride and potassium nitrate fertilizers designed for precision agriculture; and iodine and its derivatives for pharmaceutical, food and electronics applications.